Nikkiso Cryogenic Industries’ Clean Energy and Industrial Gases Group has closed the acquisition of the Alternative Fuels Division (AFD) from GP Strategies Corporation for an undisclosed amount.
The GP Strategies’ AFD is a recognised leader focused on the design, fabrication and maintenance of LNG, liquefied to compressed natural gas (LCNG), compressed natural gas (CNG) and hydrogen facilities.
AFD will operate as part of the group’s Integrated Cryogenic Solutions unit and will be renamed ICS.
The Solutions unit is one of five functional business units of the Clean Energy and Industrial Gases Group and operates independently from the company’s product companies.
Integrated Cryogenic Solutions provides innovative specialty engineering, centralised project management, procurement, manufacturing and maintenance, focusing on supplying complete solutions.
“We are excited for AFD to join our Nikkiso family,” said Peter Wagner, CEO of Cryogenic Industries and President of the group.
“AFD will broaden our offering of complete solutions. We now have an individual functional unit that can provide a solution to the customer in addition to the units that deliver products.”
“This acquisition exemplifies our passion to provide, efficient, performance-based products and service.”
Mike Mackey, who will remain with ICS as a Senior Vice-President, said, “The opportunity is exciting and we look forward to being part of Nikkiso. We will meet our customers demand for the best quality, reliability, and return on their investment.”
The acquisition was effective 1st January (2020).
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